Q1 2019 San Francisco Occupier's Guide

The first quarter of 2019 has continued a trend that began at the end of last year – large users committing to unentitled developments. Per usual, Salesforce led the market last quarter by leasing Parcel F. Not to be left behind, Pinterest joined the party by committing to 490,000 square feet at 88 Bluxome Street, current home to the San Francisco Tennis Club, and years away from delivery. With over 15 requirements in the market for blocks of space greater than 100,000 square feet, and all 2+ million square feet of office space to be delivered this year pre-leased, tenants are looking well into the future to satisfy their growth.